This case study relates to Draycott Street which is located within the Shorefields district of Liverpool 8; approximately 1.5 miles from the city centre. This is an inner-city area and caters well for both retirees and young couples with small families. It is one of the most densely populated areas in the country; with 64.1 people per square kilometre. The rate of unemployment is high at 8.8% and employment opportunities are usually only found in health and social work or the wholesale and retail sectors. The Home Price to Earnings Ratio in the area is 4.3 with terraced properties as the most commonly found type of housing; making up 45.6% of the housing stock. A high proportion of the home located here are socially rented and the percentage of owner occupation is lower than average.
Draycott Street has 47 terraced houses, with no flats or commercial premises, each having been built approximately 111 years ago. The average house price is £91,978 and the average monthly rent is £550. There are ample schools and churches, plus a busy shopping thoroughfare, located close by.
The property is a freehold mid-terraced house: on the ground floor it has a vestibule, through lounge/dining room, kitchen and on the first floor, there is a landing, two bedrooms and a bathroom with toilet facilities. Outside there is a small rear yard to the rear and on-street parking to the front of the property.
Opposite, you can see photographs as we proceed through each stage of the refurbishment of the property; we will also be updating the Progress Bar as we go. Once all works have been completed, up to Decent Homes Standard, the property will be offered for sale or let on an affordable housing cost basis.